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3310 Mixon Way Stone Mountain, GA 30087

4 Beds 3 Baths 1,858 sqft Built 1982

INVESTimate

$190,000

List Price

$1,390

$1,251 - $1,529

Rent Est.

$201,533  ( +6.07%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 1982
  • Price/Sqft : $102.26
  • 7 Days on Market
  • MLS # : 6769014
  • Updated Date : 08/23/2020 at 19:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,858 sqft
  • Baths : 2 full , 1 half
Listing Agent's Description

Beautiful & spacious 4-bdrm home with extra bonus room for media, play, school/home office. Huge private backyard with a 2-story extended deck. Lots of natural daylight throughout the house. This home was well maintained and in ready-to-move in condition! Carpet and hardwood flooring, Large 2-car garage with plenty of storage spaces. Home also features an oversized storage shed that you'll need to see for yourself (Sellers are leaving with property). Property is a corner lot but located in a double cul-de-sac in a very quite and friendly neighborhood.

SEE MORE

MARKET HIGHLIGHTS

  • #1 Most affordable big city (WalletHub, 2018)
  • Atlanta city attracted $1 billion venture capital in 2018. Venture capital flow has resulted in additional employment in technology areas. (USA Today, 2019).
  • #1 World’s Busiest Airport(Airports Council International, 2018)
  • Atlanta metro's economy is worth $403 billion in Gross Metro Product and projected to grow to $426 billion in 2019 (USMayors.org, 2018)
  • Headquarters to twenty-six Fortune 500 companies: The Home Depot, UPS, Delta Air Lines, The Coca-Cola Company, SunTrust Banks, The Southern Company, AGCO, PulteGroup (Fortune, 2018/ Metro Atlanta Chamber)
  • #1 corporate relocation city (Coldwell Banker Commercial Blue Book,, 2018)
  • #1 Moving Destination in the Nation (Penske, 2018)
  • Atlanta metro has 66.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • As the largest share, Atlanta metro contributes to 69.3% of Georgia state economy i.e. Gross State Product (USMayors.org, 2018)
  • Atlanta metro employment growth is at 2.1% and predicted to grow at 2.0% in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Zip Code: 30087

ZipNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200kPrice in $89k209k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 30087

ZipNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600Rent in $9081650

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Annistown Elementary School Primary Regular 601 44 7
Shiloh Middle School Middle Regular 1,844 112 6
Shiloh High School High Regular 2,238 126 4

Annistown Elementary School

  • Education Level: Primary
  • # of students: 601
  • # of teachers: 44
7
GreatSchools Rating

Shiloh Middle School

  • Education Level: Middle
  • # of students: 1,844
  • # of teachers: 112
6
GreatSchools Rating

Shiloh High School

  • Education Level: High
  • # of students: 2,238
  • # of teachers: 126
4
GreatSchools Rating
 

$171,000$209,000$190,000

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$701
Property Tax -$275
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
$232

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$190,000

PROJECTED PRICE

$1,390

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.52%
Appreciation Year (1-5) 6.07%
Maintenance Year (1-5) 8.00%
Vacancy 7.33%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$56,100

INVESTMENT

$56,100

Down Payment
$47,500
Rehab Estimate
$5,750
Closing Costs
$2,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$701

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $47,500
Loan Amount $142,500
See What Happens When You Reinvest Cash Flow

9.83

YEARS SAVED

$31,660

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,390

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,384

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,390
1$1,3902$1,4253$1,4274$1,4355$1,574
$1,574
RENT COMPS ANALYSIS
  • 3310 Mixon Way Stone Mountain, 1
    • 4 beds 3 baths ∙ 1,858 Sqft ∙ Built 1982 4 beds 3 baths ∙ 1,858 Sqft ∙ Built 1982
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.75
    •  
  • 5060 Conestoga Court Stone Mountain, 2
    • 3 beds 3 baths ∙ 2,060 Sqft ∙ Built 1985 3 beds 3 baths ∙ 2,060 Sqft ∙ Built 1985
    property image
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.69
    •  
  • 7513 Edenberry Way Lithonia, 3
    • 3 beds 3 baths ∙ 1,909 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,909 Sqft ∙ Built 1999
    property image
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,427
    • $0.75
    •  
  • 801 Edenberry Lane Lithonia, 4
    • 4 beds 3 baths ∙ 1,924 Sqft ∙ Built 1999 4 beds 3 baths ∙ 1,924 Sqft ∙ Built 1999
    property image
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,435
    • $0.75
    •  
  • 590 Watson Bay Stone Mountain, 5
    • 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 1997
    property image
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,574
    • $0.79
    •  
PROPERTY LISTING DETAILS
Malay S Wu
1.404.213.0202
Shakhan King
1.866.250.5610
RentVest Georgia LLC
H-75957
FIrst Multiple Listing Services ( FMLS)
MLS #: 6769014
Last Updated: 08/23/2020
support@investimateroi.com

Listings identified with the FMLS IDX logo come from FMLS, are held by brokerage firms other than the owner of this website and the listing brokerage is identified in any listing details. Information is deemed reliable but is not guaranteed. © 2017 First Multiple Listing Service, Inc.

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